BANK FORECLOSURE SOLD BY THE CAMERON TEAM

We have been working with Indymac bank to sell some of their Foreclosure homes. Last week we had our first closing. The home was located in Knoell Scottsdale, a subdivision in Scottsdale that was built in 1985. It was an interesting experience. With the real estate market in Scottsdale shifting, buyers are acting strangely. Within a few weeks of listing the Foreclosure home for sale we had 2 offers. Both were bottom fishing. But one stepped up and paid $270K for the home. One week before closing, he cancelled and lost his $2500 earnest money. He cancelled fearing the Scottsdale real estate market was declining and this Foreclosure was not a good enough deal. He just did not get that this was an adjusted price. The home sat for 2 weeks. I was shocked, then we got 4 offers over a weekend. We had an offer at full price, $275K, but the bank took the lower offer that was cash. An investor was bidding with others for this Foreclosure home in Scottsdale. This to me shows that in Scottsdale for this product in the real estate market THIS IS A BOTTOM!

Just my opinion,

Jeff Cameron